Lake Forest Bank Approved Short Sales

During the 90 day period of April 23, 2010 to July 21, 2010, the following banks (mortgage lien holders) have approved a short sale either as a first or second lien holder for homes in Lake Forest (Foothill Ranch and Portola Hills included).

The sales price begin as low as $110,000 to the highest at $735,000 with the median sale at $300,000 for a 3 bedroom, 2.5 bath, 1400 square ft. condo in Foothill Ranch. The total amount of closed sales is 96.

To be successful, the seller must fully cooperate with the banks, Realtors, buyers, appraisers and others involved in the transaction. The buyer with the accepted offer must also be cooperative and patient during the process. Many of the loans were sold and will no longer be in the banks portfolio. Some loans can be held by more than one investor, which is one of the reasons why the average days on market for a closed short sale transaction is 132 days during this period. Some were listed as long as 259 days on market.

Bank/ 1st liens/2nd liens

Wells 11 10
Wamu 9 9
Countrywide 6 5
JP Morgan Chase 5 2
American Wholesale 4 1
Indymac 3 2
Argent 3
World 3 2
Duxford 2 1
Franklin 2 2
Bank of America 2
Fremont 2 2
Clarion 2 1
Abn 2
American Home 2 1
PMC Bank 2 2
Downey 2
Universal Am 1
Metrocities 1
Capitol 1 1
Sea Breeze 1
CFC Mortg 1
Bear Stearns 1 1
Homecomings 1 1
American Mortgage 1 1
Provident Fund 1
Citimortgage 1
Chevy Chase 1 1
One West 1
Chase Manhattan 1
E Trade 1 1
Americash 1 1
Brooks America 1 1
Nationpoint 1
TJ Financial 1
First Mag 1 1
Peoples Choice 1 1
SCME 1
Liberty Am 1
Ohio Savings 1 1
Greenpoint 1 1
Bankers Ins 1 1
Nationstar 1
Colorado Fsb 1
National Mtg Network 1
Bondcorp 1 1
Long Beach Mortg 1 1
First Franklin 1 1
Ditech 1 1
One Mortgage 1 1
Pardee Homes 1
Citibank  0 2
OCFU  0  2
Citicorp  0 1
Amerigroup  0 1
American Savings 0  1
California National 0 1
No Red Tape 0 1

Source: SoCal MLS and SoCal MLS Realist